Regardless of the mode of delivery, represent a guide to the
relative teaching time and student effort required to
successfully achieve a particular competency/module. This may
include not only scheduled classes or workplace visits but also
the amount of effort required to undertake, evaluate and
complete all assessment requirements, including any
non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This course covers the competencies to estimate and analyse an organisation’s financial position and performance.

If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT501B Provide financial and business performance information

Element:

1. Assess client needs

Performance Criteria:

1.1. Expectations and objectives of client are clarified and confirmed to ensure mutual understanding of client goals 1.2. The client's specific legal and financial requirements are identified when establishing, structuring and financing a business. 1.3. Financial options and processes are discussed with client to develop suitable plans for the provision of information for the achievement of client goals. 1.4. Progress of plans is reviewed regularly against agreed criteria and results communicated to client. 1.5. Client objectives are monitored to identify changes in client needs. 1.6. Feedback on service is regularly obtained, analysed and incorporated into services to client. 1.7. Shortfalls in customer service are investigated and proposals for overcoming them are formulated and implemented.

Element:

2. Analyse data

Performance Criteria:

2.1. Advice on reliability and accuracy of data is sought from appropriate authorities and sources in accordance with organisational procedures.

2.3. Revenues and costs are analysed in accordance to standard accounting techniques and consistent with the organisation's objectives.

2.4. All data and reports are analysed in accordance with standard financial analysis techniques.

2.5. Data is reconciled to ensure statements are accurate and comply with organisational procedures and statutory requirements.

2.6. Information is evaluated in relation to the financial performance of a business, specifically profitability, efficiency and financial stability.

2.7. Further analysis is undertaken to ensure consistency of analysis with client's business and personal objectives.

2.8. Further evaluation is undertaken to assess the financial potential of the business, its future funding requirements and its statutory obligations.

Element:

3. Prepare advice

Performance Criteria:

3.1. Advice provides client with a realistic view of financial performance and compliance, including significant taxation issues and comparisons of alternative options.

3.2. Suitable methods of presentation, language and forms of documentation are used to convey information to client.

3.3. Advice identifies how risks, contingencies and future cash flows may be identified and quantified.

3.4. Client is advised of risk management options.

3.5. Client is advised of rights and obligations.

3.6. Client is advised on alternative sources and features of short and long term finance.

Learning Outcomes

On completion of this course, a student should be able to understand and provide basic financial and business performance information to various entities.

Details of Learning Activities

In this course students will undertake a range of learning activities, which will include: An initial introduction to topics and techniques via teacher directed learning, tutorial-based discussion groups, role-plays to explore individual reactions to particular situations, a group project (case-study, tutorial exercises in order to develop competency including underpinning skills and knowledge.

Lecture and tutorial notes on blackboard and various readings if applicable.

Overview of Assessment

A student must demonstrate a clear understanding of all elements of the required competencies to be deemed competent. Assessment may include a variety of methods including tests, workbooks, assignments, presentations, class exercises, etc.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.

Assessment Tasks

Assessment Tasks

You are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.

• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website. • Always retain a copy of your assessment tasks. (hard copy and soft copy) • When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of work for assessment is available on blackboard. • Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

Marking Guide (competency):

Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.

The grading is according to the following criteria:

1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK

We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to job roles such as accountant and financial planner.

2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING

We are looking for depth of understanding of the key concepts and knowledge required in accessing and managing financial services information, accessing financial product and services information and interpreting documentation

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING

We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. You also need to show an understanding of the kinds of problems that can arise in managing client services or reporting and to develop options to resolve these issues when they arise.

4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT

We expect to see ongoing uploading of information that is relevant to the unit, full utilisation of Blackboard as per course requirements and timely submission of all required assessment tasks. Teamwork skills problem solving skills to identify any issues that have the potential to impact on organisational skills, including the ability to plan and sequence work.

5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK

We expect to see contributions to relevant discussions and scheduled classroom sessions. In addition your tasks should demonstrate a very good understanding of strategies for well-developed literacy skills for analysing information on client needs and preparing clear written advice, plans and reports.